On October 17, 2014, Charles M. Forman, the Chapter 7 Trustee of the Satcon Technology Corp. bankruptcy estate, filed a number of complaints seeking the avoidance and recovery of alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code. To review a prior post concerning the filing of these complaints, click here.
Since the filing of these adversary actions, the Court has scheduled a pretrial conference for January 8, 2015 at 11:00 a.m. At the pretrial conference, the Court will enter a scheduling order to govern relevant timelines of the litigation. For a link to a standard scheduling order that can be found on the Bankruptcy Court's website, click here.
Preference defendants should review any proposed scheduling order circulated by plaintiff's counsel to determine to what extent the proposed order differs from the Court's standard scheduling orders, and be prepared to object to the inclusion of any terms that materially differ.
For preference defendants looking for an analysis of defenses that can be asserted in response to a preference complaint, below are several articles on this topic:
Preference Payments: Brief Analysis of Preference Actions and Common Defenses
Minimizing Preference Exposure: Require Prepayment for Goods or Services
Minimizing Preference Exposure (Part II) – Contemporaneous Exchanges
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.